At a glance
- The Fannie Mae financing replaces portions of a floating-rate package that became more expensive as interest rates rose.
- CoStar did not specify which Florida properties are covered, the fixed rate, the term, or how much of the original floating-rate balance remains.
- For investors in Blackstone's affordable housing vehicles, the Fannie Mae financing reduces floating-rate exposure on the Florida apartments covered, although some floating-rate exposure likely remains.
Blackstone's affordable housing business lined up more than $735 million in Fannie Mae financing for Florida apartment properties, CoStar News reported Oct. 26.
The Fannie Mae financing replaces portions of a floating-rate package that became more expensive as interest rates rose.
CoStar did not specify which Florida properties are covered, the fixed rate, the term, or how much of the original floating-rate balance remains.
For investors in Blackstone's affordable housing vehicles, the Fannie Mae financing reduces floating-rate exposure on the Florida apartments covered, although some floating-rate exposure likely remains.
Reported by the Real estate debt desk from CoStar News. Published . Corrections